Finance & Economics | WPN World People News

Staff from the European Commission, in liaison with staff from the European Central Bank, visited Ireland to carry out the fifth post-programme surveillance (PPS) mission from 7 to 10 June. Staff from the European Stability Mechanism also participated in the meetings on aspects related to its Early Warning System.

The World Bank Board of Directors today approved a US$978 million loan to improve transport links along the Kazakhstan Center West Corridor and strengthen the capacity of the local authorities to better manage and preserve roads.

The World Bank is downgrading its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January. The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows.

MEPs debate on Wednesday morning whether the EU's €315 billion investment plan to fuel Europe's economic recovery by mobilising public and private investment is delivering. According to the European Commission, the first year of the European Fund for Strategic Investments (EFSI) has been promising.

The European Union should reform its legal labour migration policies to get its fair share of the global talent pool, according to a new report published by the OECD.

The Executive Board of the International Monetary Fund completed the sixth review of Uganda’s economic performance under the program supported by the Policy Support Instrument (PSI), on 6 June.

In Nigeria, up to five million people, among the poorest and most vulnerable, will get access to social safety nets by 2021 through a $500 million International Development Association (IDA) credit approved by the World Bank Group’s Board of Executive Directors on 7 June. The Government of Nigeria will contribute $1.3 billion of its own budget to this National Social Safety Nets project (NASSP) which will lay the foundation for the establishment of the country’s first national social safety nets system.

MEPs urge the EU Commission to put forward proposals against unfair trading practices in the food supply chain, so as to ensure fair earnings for farmers and a wide choice for consumers, in a resolution voted on Tuesday. The aim should be to ensure fair and transparent trade relations among food producers, suppliers and distributors. Fair trading should in turn help to prevent overproduction and food waste, they add.